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Melting the Palace of Gold
July 07, 2008

Melting Everything But The Golden Throne

2008 has brought gold as high as it's ever been! Investors have reacted, down to the lowest levels. The coin market has reacted, with prices rising higher all the time. Jewlers are advertising and buying scrap chains and rings. The press has spread the world to every nook and cranny. Gold is the commodity on which all eyes are resting.

Case in point - the palace of gold is finally being melted down. Yes, that's right, chinese jewerly mogul Sai-wing Lam is dismantling and melting down the palace of gold he built up when gold was so woefully ignored by investors, collectors, the general public and the media.

Lam will melt and sell everything he built, except for his golden thone, the 24 karat gold toilet. The rest, all 6 tons of it, will go towards a serious expansion of his jewerly retail business.

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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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